Permanent differences are entered in Permanent Differences (v3130.00). This account uses the default Freeform formula as follows:
- (v2410.03) Amortization of Intangibles
Permanent Differences (v3130.00) are subtracted from EBT (v1600.00) to arrive at Taxable Income (v3140.00).
If you have additional permanent differences and want to model each of these separately, create subaccounts and model each permanent difference individually. The first subaccount inherits the default Freeform formula. As with Freeform Formulas, you can modify or delete it. Permanent Differences (v3130.00) is the total of all the subaccounts.